Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/253483 
Erscheinungsjahr: 
2021
Quellenangabe: 
[Journal:] Theoretical Economics [ISSN:] 1555-7561 [Volume:] 16 [Issue:] 4 [Publisher:] The Econometric Society [Place:] New Haven, CT [Year:] 2021 [Pages:] 1655-1714
Verlag: 
The Econometric Society, New Haven, CT
Zusammenfassung: 
We study intermediaries who seek to maximize gains from trade in bilateral negotiations. Intermediaries are players: they cannot commit to act against their objective function and deny, in some cases, trade they believe to be beneficial. This impairs their ability to assist the parties relative to conventional mechanisms. We analyze this limited commitment environment as a standard mechanism design problem with an additional "credibility" constraint, requiring that every outcome be interim-optimal conditional on available information. We investigate how such intermediaries communicate with the parties, analyze the tradeoffs they face, and study the bounds on what they can achieve.
Schlagwörter: 
Intermediation
mechanism design
imperfect commitment
asymmetric information
bilateral trade
JEL: 
C72
D82
D83
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Dokumentart: 
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